Glad that this article put this question into perspective. I Know this is probably the last of the leadership worries and the last thing on their “to do list”, but when you have an underfunded fund that serves nearly half a million people and have no ways of creating the funding, this can be a potential disaster waiting to happen.
https://www.barrons.com/articles/ge-stock-has-a-pension-problem-1543777234
Oh yes..... All the references the point used were wrong but the point was right? Sounds like you have answers looking for questions.
Fail.
@WrcAB3O-1vgq You stated the previous post was a lie. Link was wrong but the point that for some long service employees, the guaranteed monthly payment is or would be significantly less than we would receive if the pension is whole. What do you think the truth is?
Single employer plan rates:
https://www.pbgc.gov/wr/benefits/guaranteed-benefits/maximum-guarantee
Thank you. I did a search. GE is a single employer plan.
https://www.pbgc.gov/search-insured-plans?key=General%20electric
The previous reply is a lie. It's the same poster over and over and over again who is just trying to get people stirred up. It posted a link to the multi-employer rules rather than the single employer rules. The multi-employer rules are not nearly as strong as the single employer rules. GE pension is a single employer plan.
Several have stated the pension is insured, no one loses it... That is only part of the story. If the Pension is turned over to the PBGB, there is a maximum monthly $ and for employees who have been with the company it is SIGNIFICANTLY less than what a fully funded pension would provide. For some, myself included this will change when we can retire from GE or work in general.
You can dig around here to get details. https://www.pbgc.gov/about/factsheets/page/multi-facts
Pensions are the least of GE worries. as interest rated continue to climb the pension will fund its self. old news. love the philadelphia lawyers on here
Cutting the pension entitlement takes care of the underfunding problem overnight and ensures the company survives.
Why upload two years old news? Every one is aware of that, waste of time.
Pension is insured and safe. It is not going away that easily. The long term insurance debt is the biggest problem we have right now. Not the pension.
If it can’t be funded the only solution is bankruptcy.
@1qqm nobody is losing their pension there d!ckweed, only in your wet dreams lol
Nothing silent about the pension. John Flannery discussed it, highlighted in GE's 10K, analyst have mentioned it...GE's pension shortfall is the biggest of any company in the country. It's only silent if you don't read.
F--- your pension you guys didn't want it for post 2011 employees so how about you lose yours!!!
Won't be silent for long, especially when the stock market crashes and the underfunding rate doubles.
Old news...just some analysts trying to stay relevant.